The Big Picture: June 26, 2008
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June 26th, 2008
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- Length: 54:00 minutes (24.72 MB)
- Format: Mono 44kHz 64Kbps (CBR)
Bottom up prosperity explained. Plus Limbaugh explains oil speculation -- badly. [Yesterday's show was not recorded properly. Sorry for the inconvenience.]
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Excellent show! You touched upon a point that illustrates the 'insanity' of providing tax breaks to induce investment.
Were you to make the tax break 'provisional' (that the break be used domestically) most 'investors' are reaping larger gains by investing off-shore. And it's probably a much larger margin than the 15% capital gains tax.
So (and I respect you for not calling him on it) your caller's proposal was in fact, poorly conceived.
The 'follow-up' caller got even closer to the mark.
Most domestic investments don't make sense right now...nor will they in the future because our entire income distribution mechanism is so out of balance.
Worse, there is no way to fix it...short of serious government intervention.
Which is likely to happen before long with or without a revolt. Even the capitalists know they can't go on like this much longer.
Unfortunately for us, their 'solution' is likely to be 'autocratic'.